The State Government of Victoria
As one of the world’s leading life science clusters, Melbourne (located in Victoria, Australia) is a highly sought-after destination by global companies. The state of Victoria has a low-risk, high-quality and competitive business environment with a rich legacy of commercial success, advanced manufacturing expertise and key R&D infrastructure, attracting and maintaining a talented and skilled workforce.
Victoria’s expertise in biotechnology, medical technologies and pharmaceuticals has been supported by a favourable regulatory and R&D environment, consistently backed by strong Government investment over many decades. Boosting Victoria’s pharmaceutical capabilities are government-funded initiatives such as BioCurate, the Medicines Manufacturing Innovation Centre, the J&J Innovation Partnering Office at Monash and CSIRO’s Advanced Biotechnology Manufacturing Platform.
The State Government of Victoria has a well-established strategy to help companies become part of the global supply chain in knowledge creation, research, product development and commercialisation. Our network of 22 international business offices works with Victorian and international partners to support the development and commercialisation of new breakthrough products and treatments.
• Melbourne’s life science sector is supported by 16 major medical research institutes, 11 teaching hospitals and 9 universities.
• Victorian-based researchers annually win 40 per cent or more of Australia’s competitive medical research funding.
• Victoria is home to 77 ASX-listed companies, with a combined market capitalisation of around A$100 billion: 42% of all ASX-listed medtech and pharma companies are based in Melbourne.
• The State’s biomedical engineering expertise is built on a long tradition in automotive, aerospace and general manufacturing and is enhanced by significant capabilities in advanced, additive and bio manufacturing.
• Melbourne is home to more than 22 pharmaceutical manufacturers producing a variety of products for international markets.
Melbourne is a premier location to conduct clinical trials. Around 1,000 new clinical trials start in Australia every year and currently over a third happen in Victoria. In 2018, the Government launched the Victorian Clinical Trials Gateway making it easier for companies to discover and work with Victoria’s highly skilled professionals and world-class institutions (www.victrials.com.au)
The Victorian Government’s investment in precinct development will amplify the state’s competitive advantages in the biotech, medtech and pharmaceuticals sector:
• The Melbourne Biomedical Precinct in Parkville is home to world-leading research organisations, top-tier universities and hospitals and is where revolutionary treatments and new therapies are being developed.
• Clayton, Victoria is home to large scale infrastructure like the Australian Synchrotron, Melbourne Centre for Nanofabrication, the Victorian Heart Hospital and the CSIRO’s Advanced Biotechnology Manufacturing Platform.